@Jenna Gainey  your post is very good.. but I do want to caution folks  in a full blown foreclosure ( depending on state) 30% equity generally is not enough to ensure a 100% return of your capital.also HML  ( that are operating companies) no longer loan on collateral only..

It also states that operating as a broker without a license is a third degree felony. 

We live in a city that has a large student population, and I see ourselves operating similarly to one of the many property management companies who offer rentals to students. 

So far I have raised some capital and will continue to do so until i find the right opportunity.

So far I have raised some capital and will continue to do so until i find the right opportunity.

That is "net operating income/purchase price."  

Keep in mind you must have equitable ownership to operate in this manner in Florida.

You can use the solo K when operating an LLC taxed as an S-corp, the key is the W-2 income you pay yourself which is also what will save you that portion of the self employment taxes you talked about before.  

If I can continue to meet people like you on here that are willing to help out, I feel pretty good about being successful. 

How does using ONLY operating expenses for one year period determine a return on your investment?